Importance and Application of Statistics in Different Fields

Danny Joens30 Apr, 2024Education

What Does Statistics Mean? Its Role and Types Most summarise statistics as a field that studies data. You need to have this information in your hand, so you have several methods to include. Thus, one can assume that it contains a process, and with that, you can find a way to define it. Since, "Statistics is a subject and a branch in applied mathematics that help you collect, organise, analyse, understand and present the data." It is a generic definition that can help you understand the concept in a nutshell. Even though a definition can convey details about a topic, it cannot show the importance of statistics. You can learn about it when you study its role or significance. Also, you must know how crucial it is in different fields. So, let's look at the overall role of statistics.